credit risk management beyond numbers 17% stock … · the stock market tops flops stock market...
Post on 18-Jul-2020
0 Views
Preview:
TRANSCRIPT
The Stock Market
FlopsTops
Stock Market Review
Week 20 from May 11th to May 15th 2020
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Bloomfield Investment Corporation is a pan-African creditrating agency which specializes in the assessment of the creditrisk. Headquartered in Abidjan with offices in Douala and inKigali. the agency operates essentially in Africa.
Bloomfield Intelligence
Accreditation UEMOA AN-001/2012RWANDA ref/CMA/July/3047/2015
Headquarters Cocody Riviera 3 – Rue E104.Abidjan - Cote d’Ivoire
Website www.bloomfield-investment.com
Follow us
BRVM 10 k 0.38% 131.09
BRVM COMPOSITE m -0.46% 137.15
Market Trends
The BRVM ended this week with 131.09 points for the BRVM 10 index (+0.38%) and 137.15 points for the
BRVM Composite index (-0.46%). The capitalization of the equity market stood at 4.121 billion francs
CFA. The equity market transactions amounted to 1 233 million francs CFA at the end of the week, mainly
driven by « Publics services» (66%) and « Finance » (17%) sectors. SUCRIVOIRE CI recorded the largest
growth this week with a gain of 21.18%; BANK OF AFRICA BN while stock showed the largest decline with
a lost of 21.79%. On the commodities market, crude oil price continues its upward trend ending the week
with a gain of 19.55% to stand at $ 29.43.
* Calculated on the basis of the latest financial information published without
consideration of companies in liquidation
(Source BRVM)
Listed Companies 46
Sector Indexes
Price Evol% Vol Val (000) PER Y/S
SUCRIVOIRE 515 21.18% 11 001 4 806 N/A 14.0%
NESTLE CI 270 12.50% 97 26 N/A N/A
SICABLE CI 750 11.94% 19 546 14 018 7.0 10.0%
VIVO ENERGY CI 640 6.67% 22 978 13 780 7.5 10.0%
Price Evol% Vol Val (000) PER Y/S
BANK OF AFRICA BN
3105 -21.79% 2992 10174.87 4.2 14.0%
BOLLORE AFRICA LOGISTICS CI
1370 -19.17% 4693 6883.95 7.9 13.4%
UNIWAX CI 1120 -9.31% 6976 8027.48 5.5 16.2%
NSIA BANQUE CI 3000 -9.09% 768 2380.54 5.1 6.5%
# Companies
Value Evol% Evol YTD VolumeValue
traded(M FCFA)
Avg PERAvgY/S
BRVM – Industry 12 33.13 -0.93% -11.79% 41 033 140 61.9 12%
BRVM – Public Services 4 432.06 2.06% -12.09% 124 737 811 9.3 9%
BRVM - Finances 16 52.48 -2.31% -11.75% 207 898 211 5.4 10%
BRVM - Transport 2 335.74 -18.77% -8.46% 4 693 7 7.9 13%
BRVM - Agriculture 5 64.79 0.78% -24.41% 12 320 7 6.4 12%
BRVM - Distribution 7 207.80 2.06% -19.18% 66 773 56 9.6 9%
BRVM – Other sectors 1 271.45 0.00% -15.39% 4 307 1 3.4 0%
Evol Value
Average PER* m 14.86
Average yield / share* k 9.36%
Market capitalization (billion FCFA) m 4 121
Trading volume (shares) 461 761
Trading volume (bonds) 5 790
Value traded (shares) 1 233 062 906
Value traded (bonds) 57 608 262
11%
66%
17%
1% 5%Valued traded by sector
BRVM - Industry BRVM – Public services BRVM - Finance BRVM - TransportBRVM - Agriculture BRVM - DistributionBRVM – Other sectors
Market News
❑ [SENEGAL]: The World Bank approves a $ 150
million loan for Senegal. The funding is expected
to help the country strengthen the
competitiveness of agriculture and livestock, and
help build resilient food systems.
❑ [NIGER]: The government of Niger has
adopted an amending finance bill for 2020. The
revised budget amounts to CFAF 2 405.53 billion
compared to CFAF 2 266.15 billion FFA initially
planned. This 6.15% increase would be aimed at
better combating the impact of the Covid-19.
❑ [MALI]: The government of Mali has adopted a
2020 finance law to consider the impact of the
Covid-19 health crisis. This modification
formalizes on the one hand a reduction of 6.46%
in budgetary revenue compared to the initial
budget, and notes on the other hand an increase
in budgetary expenditure now estimated at CFAF
2 781 billion, an increase of 6.77% by compared
to the initial budget. The forecast deficit would
amount to CFAF 740 billion against CFAF 317.2
billion initially forecast, an increase of 75%.
CREDIT RISK MANAGEMENT BEYOND NUMBERS
The Stock Market
News BRVM Corporates
❑ [NESTLE CI]: Nestlé Côte d'Ivoire presented its
activity report for the first quarter of 2020. It
appears that the turnover amounted to CFAF 41.4
billion against CFAF 37.2 billion FCFA, an increase
of 11% compared to the first quarter of 2019. The
result of ordinary activities also progressed
positively to reach CFAF 1.666 billion,
representing a surplus of 212%. Net profit also
benefited from an increase of 59% to reach CFAF
406 million.
❑ [SODECI]: The Water Distribution Company of
Cote d'Ivoire, published its activity report for the
first quarter of 2020. It shows an increase in
turnover of 26% compared to the first quarter of
2019. The result increased by 16%. However, the
CFAF 31 million loss in financial income
contributed to the 5% decrease in ordinary
income. Net profit also declined to reach CFAF
794 million compared to CFAF A 828 million in
2019, a decrease of 4% compared to the first
quarter of 2019.
The Chief Economist’s Analysis [a focus on UNIWAX CI]
At the end of the first quarter of 2020, the turnover of the UNIWAX company stood at FCFA 8,525.5 millioncompared to FCFA 10,213.6 million in the same period of the previous year, a decrease of 16 .07%. Thisslowdown would come from the 10% drop in sales in the first two months of 2020 combined with thereduction in activity in connection with the covid-19 pandemic. In terms of net profit, it went from FCFA 790.7million on March 31, 2019 to FCFA 236.1 million on March 31, 2020, a decrease of 70.13%. The decreaseobserved is mainly due to the 69.96% contraction in operating profit over the period. On the stock market, theUNIWAX share started 2020 at a price of FCFA 1,725 and reached its highest level on January 29, i.e. FCFA2,000 (+ 15.94% compared to the start of year). The stock observes a serie of depreciations thereafter andtrades at FCFA 1,125 at the end of the session on May 14, a decrease of 34.78% compared to the beginning ofthe year. The easing of the measures taken by the West African States in the context of the fight against thespread of the virus should not lead to a significant recovery in economic activity which will negatively impactUNIWAX and its stock for the next few months.
W20–2020 / P2
CREDIT RISK MANAGEMENT BEYOND NUMBERS
The Stock Market
Public Services Sector
Finance Sector
Industry Sector
Distribution Sector
Transport Sector
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
BICI CI 3 670 1.94% 689 2 517 6.25 4.98% 20.1% 18.2%
BANK OF AFRICA BN 3 105 -21.79% 2 992 10 175 4.2 14.04% 84.6% 16.4%
BANK OF AFRICA BF 3 200 0.00% 2 312 7 280 3.8 11.56% 43.3% 31.0%
BANK OF AFRICA CI 3 300 -0.90% 10 073 33 259 4.59 9.27% 40.7% 33.9%
BANK OF AFRICA M 970 -3.00% 754 749 27.94% -21.8% -17.8%
BANK OF AFRICA NG 3 800 -1.30% 13 398 51 301 5.81 11.31% 90.6% 21.1%
BANK OF AFRICA S 1 500 -2.91% 14 055 21 142 3.95 10.67% 40.1% 10.6%
CBI BF 7 600 -1.87% 632 4 768 8.78 5.29% 46.9% 27.2%
ECOBANK CÔTE D'IVOIRE 3 000 0.00% 7 407 21 930 6.51 8.03% 30.4% 22.1%
ECOBANK TRANS. INCORP. TG 13 0.00% 136 507 1 775 1.46 N/A 52.4% 5.4%
NSIA BANQUE CI 3 000 -9.09% 768 2 381 5.1 6.47% 30.7% 19.9%
ORAGROUP TOGO 3 980 -0.13% 354 1 382 9.28 1.43% 20.3% 20.5%
SAFCA CI 330 -2.94% 10 3 N/A N/A -0.7% -7.9%
SGB CI 7 645 -3.23% 1 194 9 268 4.73 2.69% 89.4% 30.9%
SOCIETE IVOIRIENNE DE BANQUE CI
2 580 -1.34% 16 753 43 141 4.6 9.77% 75.9% 24.9%
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
CIE CI 1 200 -4.00% 11 029 13 421 13.63 6.60% 0.3% 10.6%
ONATEL BF 3 295 1.38% 71 974 234 799 7.45 12.42% 17.4% 40.9%
SODE CI 2 950 0.00% 2 421 6 664 8.99 9.15% 2.9% 21.7%
SONATEL SN 14 250 2.52% 39 313 556 336 7.24 8.60% 17.7% 24.1%
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
SICABLE CI 750 11.94% 19 546 14 018 6.96 10.00% 4.2% 10.4%
FILTISAC CI 970 -1.02% 6 086 5 938 7.37 11.34% 5.4% 9.1%
NEI-CEDA CI 115 -4.17% 1 023 119 2.5 N/A 8.3% N/A
NESTLE CI 270 12.50% 97 26 N/A N/A -2.9% N/A
CROWN SIEM CI 120 0.00% 560 67 N/A N/A N/A N/A
AIR LIQUIDE CI 200 -4.76% 2 375 467 N/A N/A -1.1% -1.3%
SOLIBRA CI 45 000 0.00% 2 425 109 125 56.76 3.04% 2.2% 4.2%
SMB CI 2 600 -1.89% 490 1 274 352.47 17.31% 8.3% 97.7%
SITAB CI 600 0.00% 1 455 821 2.04 N/A -3.0% N/A
TRITURAF CI-Ste en Liquidation
490 0.00% N/A 0 N/A N/A N/A N/A
UNILEVER CI 4 775 0.00% 0 0 N/A N/A -6.0% 16.3%
UNIWAX CI 1 120 -9.31% 6 976 8 027 5.54 16.23% 7.7% 13.9%
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
SERVAIR ABIDJAN CI 1 050 -1.87% 4 343 4 448 7.59 15.71% 6.5% 23.7%
BERNABE CI 600 0.00% 1 268 759 9.39 7.50% 5.1% 15.7%
CFAO CI 365 0.00% 12 703 4 329 12.60 8.63% 5.1% 24.8%
TRACTAFRIC MOTORS CI 3 000 3.45% 147 432 15.26 5.01% 1.2% 9.6%
VIVO ENERGY CI 640 6.67% 22 978 13 780 7.48 10.04% 1.5% 21.6%
TOTAL CI 1 250 0.81% 19 907 24 887 7.55 8.67% 3.0% 30.5%
TOTAL SN 1 400 3.70% 5 427 7 586 7.19 7.52% 1.4% 21.2%
Reference price
Evol% Vol Val (000) PER Y/SRatio marge
netteROE
BOLLORE AFRICA LOGISTICS CI
1 370 -19.17% 4 693 6 884 7.94 13.43% 14.6% 42.9%
MOVIS CI 2 395 0.00% 0 0 N/A N/A -6.6% 28.3%
W20– 2020 / P3
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Agricultural Sector
The Stock Market
Other Sectors
Other Markets
Raw Materials
Currencies **
African Stock Markets
* Weekly evolution of the average price (order the day before the close of trading)
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
PALM CI 1 200 1.69% 259 308 N/A 21.12% -5.3% -6.3%
SUCRIVOIRE 515 21.18% 11 001 4 806 N/A 13.98% 5.6% 6.4%
SICOR CI 2 400 0.00% 0 0 1.46 N/A 6.8% 5.3%
SOGB CI 1 610 -5.29% 880 1 485 7.69 7.83% 12.3% 17.7%
SAPH CI 1 325 1.92% 180 239 10.03 5.89% 10.0% 16.3%
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
SETAO CI 220 0.00% 4 307 948 3.41 N/A 5.1% N/A
JohannesburgStock Exchange
ALL SHARE INDEX m -2.70% 49628.72
Nairobi Stock ExchangeNSE ALL SHARE INDEX m -3.93% 135.33
Nigerian Stock ExchangeALL SHARE
INDEX m -0.72% 23871.33
Egyptian ExchangeEGX 100 INDEX 0.00% 1084.95
Casablanca Stock Exchange
MOROCCAN ALL SHARE INDEX m -1.09% 9413.67
Price Evol
USD / XOF 17.07 8.31%
GBP / XOF 1766.4 3.61%
EUR / XOF 1.646 -9.76%
JPY / XOF 29.43 19.54%
CNY / XOF 1958 1.14%
ZAR / XOF 2399 0.97%
NGN / XOF 104.8 -6.12%
EGP / XOF 140.3 -0.43%
KES / XOF 2116 2.72%
Price Evol
Silver (USD/Oz) 17.07 8.31%
Gold (USD/XAU) 1766.4 3.61%
Natural gas(USD/MMBtu)
1.646 -9.76%
Crude oil (USD/bbl) 29.43 19.54%
Cocoa. London (GBP/t) 1958 1.14%
Cacao. New York (USD/t) 2399 0.97%
Coffe. US (USD/lb) 104.8 -6.12%
Rubber (JPY/kg) 140.3 -0.43%
Palm oil (Riggints/t) 2116 2.72%
W20– 2020 / P4
1400
1450
1500
1550
1600
1650
1700
1750
1800
10
11
12
13
14
15
16
17
18
19
20
S17 S18 S19 S20
Silver (USD/Oz) Gold (USD/XAU)
10
15
20
25
30
35
40
45
50
1
1,1
1,2
1,3
1,4
1,5
1,6
1,7
1,8
1,9
2
S17 S18 S19 S20
Natural gas (USD/MMBtu) Crude oil (USD/bbl)
1000
1200
1400
1600
1800
2000
2200
2400
2600
2800
3000
90
100
110
120
130
140
150
S17 S18 S19 S20
Coffe US (USD/lb) Cococa London (GBP/t) Cacao New York (USD/t)
2 000
2 050
2 100
2 150
2 200
2 250
2 300
2 350
2 400
2 450
2 500
125
130
135
140
145
150
155
160
165
170
S17 S18 S19 S20
Rubber (JPY/kg) Palm oil (Riggints/t)
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Credit Ratings (1/3)
W20– 2020 / P5
Company name Country Sector/ mayn activitiesLong term Short term Rating
expiration dateRating Outlook Rating Outlook
Abeda Côte d’Ivoire Public works Expired
Air Cote d’Ivoire Côte d’Ivoire Airline company Expired
Alios Finance Cameroun Cameroun Leasing A- Stable A1+ Stable 31/10/2020
Alios Finance Cote d’Ivoire Côte d’Ivoire Leasing BBB+ Stable A1 Stable 31/08/2020
ANSUT Côte d’Ivoire Telecommunications Expired
AVENI – RE Côte d’Ivoire Reinsurance Expired
Banibah Côte d’IvoireConstruction & Public works
Expired
Bank Of Africa – Benin Benin Banking sector A+ Stable A1 Stable 30/04/2020
Bank Of Africa – Burkina Faso Burkina Faso Banking sector A Stable A1 Stable 30/06/2020
Bank Of Africa – Cote d’Ivoire Cote d’Ivoire Banking sector A Stable A2 Stable 31/05/2020
Bank Of Africa – Mali Mali Banking sector A- Stable A2 Stable 31/05/2020
Bank Of Africa – Niger Niger Banking sector A- Stable A2 Stable 30/06/2020
Bank Of Africa – Sénégal Senegal Banking sector A- Stable A2 Stable 30/06/2020
Bank Of Africa – West Africa Cote d’Ivoire Holding activities Expired
Bernabé CI Cote d'IvoireDistribution of hardware products. metal products and construction materials
A+ Stable A1 Stable 30/06/2020
BGFI Holding Corporation Gabon Holding activities A+ Stable A1- Stable 30/06/2020
BGFI Bank Cote d'Ivoire Cote d'Ivire Banking sector Confidential 31/10/2020
Bond issue of the city of Dakar Senegal Financial instrument Expired
Caisse Régionale de Refinancement Hypothécaire
UEMOA Financial institution AA+ Stable A1+ Stable 31/05/2020
Caisse Nationale de Prévoyance Sociale
Côte d’IvoireSocial security scheme of the private sector
AA Stable A1+ Stable 30/09/2020
CAMTEL Cameroun Telecommunications Expired
Chantier Côte d’Ivoire Metal construction Expired
CI Energies Côte d’IvoireMonitoring of the energy sector and electrical infrastructure works
Confidential 30/04/2020
CIE Côte d'Ivoire Electricity AA+ Stable A1+ Stable 31/07/2020
City of Dakar Senegal Local community Expired
Cote d’Ivoire Céréales Cote d’IvoireCorn and rice processing / Bond issue
Expired
Crown Siem CI Cote d'Ivoire Metal packaging A- Stable A3 Stable 30/06/2020
Dekel Oil Cote d’IvoireSeed and palm oil products
Ongoing reassessment
Distri-Centre Côte d’IvoireDistribution of mobile phone products
Expired
District of Abidjan Cote d'Ivoire Local community BBB Stable B Stable 31/10/2020
Ecobank Burkina Faso Burkina Faso Banking sector Confidential 30/04/2020
Ecobank Côte d’Ivoire Côte d’Ivoire Banking sector AA- Stable A1 Stable 30/06/2020
Ecobank Senegal Senegal Banking sector Confidential 30/04/2020
Elite Trading Côte d’Ivoire Construction Expired
Etablissement DM Côte d’Ivoire Construction Expired
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Credit Ratings (2/3)
W20– 2020 / P6
Company name Country Sector/ ActivityLong term Short term Rating expiration
dateRating Outlook Rating Outlook
FAGACE Benin Institutional collateral A- Stable A2 Stable 30/11/2020
FCTC Energie 5% Cote d'Ivoire Securitization Confidential
FICOGES Cote d’Ivoire Audit Expired
Fonds d'Entretien Routier (FER) Cote d'IvoireFinancing of the maintenance of road infrastructure
A- Stable A1 Stable 31/08/2020
GEBAT Cote d'IvoireConstruction & Public works
Expired
GEFRI-CI Côte d'Ivoire Electricity & Cooling Expired
GuarantCo United Kingdom Institutional collateral AAA Stable A1+ Stable 30/06/2020
IDT Cote d'Ivoire Tobacco distribution Expired
Immobiliare Cote d'Ivoire Construction Expired
Klapton Mauritius Insurance BBB+ Stable A1- Stable 31/05/2020
Koffi & Diabaté Développement Cote d’Ivoire Construction Expired
Loyale Assurances SA Cote d'Ivoire IARD Insurances Expired
Loyale Vie SA Cote d'Ivoire LIFE Insurances Expired
Municipality of Plateau Cote d'Ivoire Local community Expired
Nestlé CI Cote d'Ivoire Food industry A- Stable A1 Stable 31/10/2020
NSIA Assurance Benin Benin Insurance Confidential 30/06/2020
NSIA Assurance Cote d'Ivoire Cote d’Ivoire Insurance Confidential 30/06/2020
NSIA Assurance Gabon Gabon Insurance Confidential 31/05/2020
NSIA Assurance Guinée Bissau Guinea-Bissau Insurance Expired
NSIA Assurance Senegal Senegal Insurance Confidential 30/06/2020
NSIA Assurance Togo Togo Insurance Expired
NSIA Assurance Vie Benin Benin Insurance Confidential
NSIA Assurance VIE Cote d'Ivoire Cote d’Ivoire Insurance Confidential 30/06/2020
NSIA Assurance Vie Senegal Senegal Insurance Confidential
NSIA Assurance Vie Togo Togo Insurance Expired
NSIA Banque Cote d’Ivoire Banking sector A+ Stable A1 Stable 31/07/2020
OMNIUM MaliManufacturing and distribution of batteries
Expired
ONEP Cote d'IvoirePromoting access to safe drinking water
BB Stable A3 Stable 31/07/2020
ORAGROUP TogoFinancial holding activities
A Stable A2 Stable 30/06/2020
PAA Cote d'Ivoire Port activities AA- Stable A1- Stable 30/06/2020
PALMCI Cote d'IvoireSeed and palm oil products
A Stable A1 Stable 31/05/2020
PASP Cote d'Ivoire Public port operations A Stable A2 Stable 30/06/2020
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Credit Ratings(3/3)
W20– 2020 / P7
Company name Country Sector/ ActivityLong term Short term Rating expiration
dateRating Outlook Rating Outlook
Petro Ivoire Cote d'Ivoire Oil Products Distribution A+ Stable A3 Stable 30/06/2020
Radiant Insurance Company Rwanda Insurance Expired
Resto Plus Côte d'Ivoire Collective catering Expired
SENELEC SenegalProduction. distribution. import and export of electricity
Expired
Shelter Afrique Kenya Banking BBB+ Stable A3 Stable 31/07/2020
SICOGI Cote d'IvoireConstruction and housing management
Expired
SIMAT Cote d'Ivoire Handling and Transit Expired
SIR Cote d'Ivoire Crude oil refining Expired
Société Equatoriale des Mines Gabon Mining operations Expired
Société Ivoirienne de Banque Cote d’Ivoire Banking sector AA- Stable A1 Stable 30/04/2020
SODECI Cote d'Ivoire Water distribution AA- Stable A1- Stable 31/07/2020
Sonar Vie Burkina Faso Insurance A Positive A1 Positive 31/10/2020
State of Benin Benin Sovereign rating A- Stable A2 Stable 31/05/2020
State of Cote d'Ivoire Cote d'Ivoire Sovereign rating A- Stable A2 Stable 31/05/2020
State of Mali Mali Sovereign rating Confidential 30/11/2020
State of Niger Niger Sovereign rating Confidential 30/11/2020
State of Togo Togo Sovereign rating Confidential 30/11/2020
Total Côte d’Ivoire Cote d'IvoireDistribution of petroleum products
AA+ Stable A1 Stable 31/10/2020
Tropical Distribution Cote d’Ivoire Distribution Expired
Tropical Packaging Cote d’Ivoire Metal industry Expired
UIREVI Cote d’Ivoire Export agriculture Expired
VIP NET Cote d'Ivoire Telecommunications Expired
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Bond MarketCorporate Bonds
Regional Entities Bonds
Government Bonds
Quantity Reference price Previous price Coupon Maturity
BIDC-EBID 6.50% 2014-2021 1 10000 10000 325 28 apr/ 28 sep
BIDC-EBID 6.510% 2017-2027 133 10300 10300 610 16 june
BOAD 5.95% 2014-2021 9900 9900 260.82 26-dec
CRRH-UEMOA 6.10% 2012-2022 9925 9925 305 13 feb / 13 august
CRRH-UEMOA 6.10% 2012-2024 10000 10000 305 17 jan / 17 july
CRRH-UEMOA 6% 2013-2023 10000 10000 300 26 apr / 26 oct
CRRH-UEMOA 6% 2014-2024 9950 9950 300 30 june/ 30 dec
CRRH-UEMOA 5.85% 2015-2025 9900 9900 290.9 04 jan / 04 july
CRRH-UEMOA 5.85% 2016-2026 10000 10000 292.5 03 jan / 03 july
CRRH-UEMOA 5.95% 2017-2029 39 7798.25 8208.01 247.92 17-may
CRRH-UEMOA 5.95% 2017-2029 9144.67 9144.67 272.71 21-dec.-19
CRRH-UEMOA 6.05% 2018-2033 9333 9333 282.33 21-dec.-19
Quantity Reference price Previous price Coupon Maturity
ETAT DU MALI 6.20% 2016-2023 5 6666 6532.68 99.54 23-may
ETAT DU MALI 6.50% 2017-2024 8000 8000 520.36 20-apr
ETAT DU MALI 6.50 % 2018-2025 9850 9850 218.44 07-oct
ETAT DU MALI 6.50% 2019-2027 10000 10000 372.95 12-jul
ETAT SENEGAL 6.50% 2013-2023 10000 10000 16.07 29 jan/ 29 jul
ETAT SENEGAL 6.50% 2014-2021 5 4100 4000 51.43 27 may/27 nov
ETAT SENEGAL 6.30% 2015-2025 11 10300 10200 127.38 25 may / 25 nov
TPBF 6.50% 2020 - 2028 500 10 000 313.28 25 may / 25 nov
TPBF 6.50% 2013-2020 10 000 10000 325 29 may / 29 nov
TPBF 6.50% 2017-2027 112 10 000 10000 322.33 31 jan / 31 jul
TPBF 6.50% 2017-2024 10 300 10300 325 29-jun
TPBF 6.50% 2018-2025 10 000 10000 325 05-dec
TPBF 6.50% 2018-2025 10 000 10000 325 15-nov
TPBF 6.50% 2019-2027 62 10 000 10000 323.22 06-nov
TPBF 6.50% 2019-2027 20 10 300 10200 325 07-apr
TPBJ 6.50% 2017-2027 10 300 10300 650 29-nov
TPBJ 6.50% 2018-2025 181 10 300 10300 325 20-may
TPCI 6.55% 2014-2022 9 802 9802 655 19 jun / 19 dec.
TPCI 3% 2014-2024 10 000 10000 150 19 jun / 19 dec
TPCI 5.85% 2014-2021 9 800 9800 292.5 14-may
TPCI 5.99% 2015-2025 3750 9 900 10000 599 05 apr/05 oct
TPCI 5.85% 2015-2022 10 000 10000 292.5 08-apr
TPCI 6% 2016-2028 10 000 10000 600 15-jun
TPCI 5.90% 2016-2026 10 000 10000 590 17-nov
TPCI 5.90% 2016-2026 9 900 9900 590 31 mar / 30 sep.
TPCI 6.25% 2017-2029 10 200 10200 312.5 24-oct
TPCI 5.95% 2017-2024 A 10 000 10000 297.5 10-nov
TPCI 5.95% 2017-2024 B 10 000 10000 297.5 29-dec
TPCI 6% 2017-2025 10 000 10000 300 02-aug
TPCI 6% 2018-2026 10 000 10000 600 19-oct
TPCI 6% 2018-2026 10 000 10000 600 13-dec
TPCI 5.95% 2018-2025 10 000 10000 297.5 20-june
TPCI 5.75% 2019-2026 85 10000 10000 575 20-june
TPCI 2.23% 2019-2026 20-june
TPCI 5.75% 2019-2026 10 000 10000 575 20-march
TPCI 6% 2019-2029 10 000 10000 600 20-march
TPCI 5.75% 2019-2026 10 000 10000 575 20-march
TPCI 5.75% 2019-2026 10 000 10000 575 11-jul
Quantity Reference price Previous price Coupon Maturity
DIASPORA BONDS BHS 6.25% 2019-2024 10 000 10000 314.21 10-jan
SENELEC 6.50% 2018-2025 9 850 9850 325 27-march
SHELTER AFRIQUE 6.6% 2014-2021 10 300 10300 10000 28 feb / 28 august
SIFCA 6.90% 2013-2021 2000 2000 5000 08-august
W20– 2020 / P8
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Bond Market
Government Bonds
Quantity Reference price Previous price Coupon Maturity
TPCI 5.80% 2019-2026 10 000 10000 580 04-dec
TPCI 5.75% 2019-2026 85 9 900 9900 575 04-dec
TPCI 5.75% 2019-2026 10 300 10300 575 17-oct
TPCI 5.75% 2019-2026 400 10000 575 10-janv
TRESOR PUBLIC DU NIGER 6.50%2019-2026
10300 10300 650 28-march
TRESOR PUBLIC DU NIGER 6.50%2019 - 2026
401 10300 9800 650 01-aug
SUKUK ETAT DE COTE D'IVOIRE 5.75% 2015-2020 9990 9990 292.292 28-june
SUKUK ETAT DE COTE D'IVOIRE 5.75% 2016-2023 10000 10000 289.097 07-march
SUKUK ETAT DU SENEGAL 6% 2016-2026 10200 10200 306.667 26-july
SUKUK ETAT DU TOGO 6.5% 2016-2026 10200 10200 0 17-feb
W20– 2020 / P9
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Contacts Bloomfield Investment Corporation
Djeneba DIALLODirecteurAnalyses Economiques et Boursièresd.diallo@bloomfield-investment.com
Bloomfield Investment Corporation06 BP 1888 Abidjan 06Tel: (225) 20 548 440Fax: (225) 20 215 751
top related